Tax Cuts, Interests Rates & Avoiding A Recession
If the White House is not worried about the possibility of a recession, they are doing a really poor job of acting like it. Talk of a new payroll tax cut and lower interest rates come less than a week after the U.S. Treasury bond yield curve inverted for the first time since 2007 in a sign the economy could be headed toward a recession.
We also have a report about the firing of a New York City police officer, five years after he put a suspect in a choke hold. The suspect was Eric Garner who later died. Garner and Michael Brown of Ferguson Missouri, were two black men, killed in incidents with white police officers, that helped kickstart the Black Lives Matter movement. Both officers were cleared by the Justice Department of civil rights violations. And get ready for Barack and Michelle Obama’s first movie. Read all about it below.
– Fraser Dixon
Senior White House Officials Eye Tax Cut to Avert Slowdown
(Washington Post) – Several senior White House officials have begun discussing whether to push for a temporary payroll tax cut as a way to arrest an economic slowdown, three people familiar with the discussions said, revealing growing concerns about the economy among President Trump’s top economic aides.
Read more from the Washington Post here.
NYPD Fires Officer for 2014 Chokehold Death of Eric Garner
(AP) – Police Commissioner James O’Neill said he fired Daniel Pantaleo, who is white, based on a recent recommendation of a department disciplinary judge. He said it was clear Pantaleo “can no longer effectively serve as a New York City police officer.”
“None of us can take back our decisions,” O’Neill said, “especially when they lead to the death of another human being.”
Read more from the Associated Press here.
Obamas’ First Film Charts Life in US Factory Under China Bosses
(Yahoo News) – The film charts a Midwestern rust belt community’s journey from optimism at the giant plant’s reopening — bringing back vital jobs — toward creeping anger and disillusionment as the Chinese management imposes its strict, exhausting demands on workers and sacks those who don’t comply.
Read more from Yahoo News here.
This day in history
On August 20, 1920, seven men, including legendary all-around athlete and football star Jim Thorpe, meet to organize a professional football league at the Jordan and Hupmobile Auto Showroom in Canton, Ohio.